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Apr 18, 2013
04/13
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weekend fix the budget that reduces the deficit by $1.2 trillion over 10 years and that would take a grand bargain including spending cuts and additional revenues. would turn off the automatic spending cuts and sequestration for those 10 years. i remain hopeful we can develop such a bipartisan plan but absent a so-called grand bargain, surely we could devise a balanced deficit reduction package for one year that avoid sequestration in fy2014. we simply cannot continue to ignore the effects of sequestration. sequestration will have a major impact on military personnel. the pay of military personnel has been exempt it will ask them -- for troops including schools, military children, family support programs and transition assistance programs and mental health and other counseling programs. the president's budget request continues the measure drawdown of active duty and present and strength. we have in recent years given the department numerous force shaping authorities to allow us to reduce the debt strength in a responsible way, ensuring that the service maintains the proper enforcemen
weekend fix the budget that reduces the deficit by $1.2 trillion over 10 years and that would take a grand bargain including spending cuts and additional revenues. would turn off the automatic spending cuts and sequestration for those 10 years. i remain hopeful we can develop such a bipartisan plan but absent a so-called grand bargain, surely we could devise a balanced deficit reduction package for one year that avoid sequestration in fy2014. we simply cannot continue to ignore the effects of...
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Apr 20, 2013
04/13
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have been deficits for four years. but sometimes you need some, you get it, other times, in germany, to end with one poll that is quite interesting. you may know, you may have known that of course there's a lot of concern in public opinion, is it not the wrong decision to care for the european monetary, if you look at -- be have the highest polls we ever had, and shoo we stay in the euro or not. 70%, which is high, said, yes, we have to stay. we have to solve the problem. and it's a good basic. thank you very much. >> thank you very much. [applause] >> let me just start the questions by asking you, we have seen major initiatives in both the united states and europe to regulate banks. is more coordination needed between the two of us and if so, how would you recommend that we could achieve that. >> obviously more coordinate needed, but we try to find solutions in europe. we know that u.s. has in some way gone ahead, but we will work -- we discuss -- it's not most problematic issue actually, to have common understanding
have been deficits for four years. but sometimes you need some, you get it, other times, in germany, to end with one poll that is quite interesting. you may know, you may have known that of course there's a lot of concern in public opinion, is it not the wrong decision to care for the european monetary, if you look at -- be have the highest polls we ever had, and shoo we stay in the euro or not. 70%, which is high, said, yes, we have to stay. we have to solve the problem. and it's a good basic....
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Apr 17, 2013
04/13
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we had no capacity to deal with it other than by we were in deficit and had a bigger deficit. we have to slowly work our way out. the budget gets us to a solid stable place. >> what is the highest rate you think can be charged to small business? >> i'm sorry. >> we're 39% now. the highest in the nation. that -- i can tell you that doesn't help small business. what is the highest rate you and the president think they can charge small business before they collapse and break? >> obviously businesses choose whether to organize on the corporate side or individual side. we we have not proposed any increase beyond the current 39.6 on the individual side. the better we do -- i heard you talk about. what is his deal. >> it was not a simple as this. it was difficult negotiation we were negotiating with republicans to refuse to put taxes on the table. >> forget it. let me pose this. i'm a small business owner and i can tell you your not helping small business. the burden that the administration is putting on small business unbelievable. i would suggest you look at texas or nod see what l
we had no capacity to deal with it other than by we were in deficit and had a bigger deficit. we have to slowly work our way out. the budget gets us to a solid stable place. >> what is the highest rate you think can be charged to small business? >> i'm sorry. >> we're 39% now. the highest in the nation. that -- i can tell you that doesn't help small business. what is the highest rate you and the president think they can charge small business before they collapse and break?...
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Apr 20, 2013
04/13
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now, some people can't understand what the trade deficit is, some will, but the trade deficit is the difference between what america exports and what we import so what it really means to say that we're $500 billion out of balance for the rest of the world is that we're consuming more than we produce to the tune of $500 billion a year. the reason that's true is the only place you can get goods to consume is you either make them yourself or import them from someplace else. this is another way in which the united states is living beyond its means. now, those remarks were to try to get you interested. people don't usually pay money to hear me speak. i assume you are all at least somewhat interested. if you look at free trade, once you understand there's an issue here with the trade situation, if any of you got a wallet on you, pull out a ten dollar bill. the guy on the ten dollar bill etary of the treasury, ca the intellectual architect of american capitalism, one of the founding father, and an envowed protectionist as was abraham lincoln, as was virtually every president prior to world
now, some people can't understand what the trade deficit is, some will, but the trade deficit is the difference between what america exports and what we import so what it really means to say that we're $500 billion out of balance for the rest of the world is that we're consuming more than we produce to the tune of $500 billion a year. the reason that's true is the only place you can get goods to consume is you either make them yourself or import them from someplace else. this is another way in...
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Apr 19, 2013
04/13
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look, economics are fiscal situation, the deficit, the budget, are all threats to the security. there's a lot of physical seen and unseen threats out there that perhaps are different even from when admiral mullen made that comment. i align myself with the economic piece of it. there are just groups out there that threaten us. ? 0. >> thank you. it is important for us, i think to remember the president's budget despite proposing significant tax increases would still contemplate adding $12.db $2.5 trillion head by the total public. .. >> future years covered by the budget control act. will we continue to see budget that is ignore provisions, ignore the sequester provisions? can you expect budgets like that to be sent to congress that don't reflect the law? secretary hagel? >> the fy15 budget we'll present
look, economics are fiscal situation, the deficit, the budget, are all threats to the security. there's a lot of physical seen and unseen threats out there that perhaps are different even from when admiral mullen made that comment. i align myself with the economic piece of it. there are just groups out there that threaten us. ? 0. >> thank you. it is important for us, i think to remember the president's budget despite proposing significant tax increases would still contemplate adding...
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Apr 19, 2013
04/13
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we can develop such a bipartisan plan perhaps in a so-called grand bargain we could devise a balance deficit reduction package for one year that avoids sequestration in fy 2014. we simply cannot continue to ignore the effect of sequestration. sequestration will have a major impact on military personnel. though the pay of military personnel has been exempted, the sequester would reduce military readiness in the services for the troops including schools for military children, family support programs and transition assistance programs and mental health and other counseling programs. the president's budget request continues a major drawdown of active duty and reserve strength. we have in recent years given the department numinous force shaping authorities to allow it to reduce its strength in a responsible way ensuring that the services maintain the proper force mix and avoiding grade and occupational disparities, all of which have long term affect. if sequestration continues, the result would be ore pripitous foe structe that is ou of t the requirements of our defense strategy. sequestration ha
we can develop such a bipartisan plan perhaps in a so-called grand bargain we could devise a balance deficit reduction package for one year that avoids sequestration in fy 2014. we simply cannot continue to ignore the effect of sequestration. sequestration will have a major impact on military personnel. though the pay of military personnel has been exempted, the sequester would reduce military readiness in the services for the troops including schools for military children, family support...
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Apr 22, 2013
04/13
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greece has made a lot of progress in reducing deficit as well. therefore, we are regaining confidence. and if you look at market, markets are very, have regained a lot of confidence. and bonds for all member states, including italy, spain, all the concerned countries, are below they used to be before the crisis. therefore, markets have regained what we are doing now is building the next step, building the banking union. we have already agreed on mechanisms because we need a strong european supervision of banks because our banking works not only in the frame of one member state, but all of us. we need a european mechanism and a european supervision. we haveimemented, we will implement a supervise mechanism in the coming weekings. it -- weeks. it has been already decided. we will build, we have a european regulation on deposit insurance. we have a european regulation on our -- it is not yet decided, but it's drafted, and it is on the way on regulation that was -- [inaudible] mechanism as well. and, therefore, we are working step by step in the dire
greece has made a lot of progress in reducing deficit as well. therefore, we are regaining confidence. and if you look at market, markets are very, have regained a lot of confidence. and bonds for all member states, including italy, spain, all the concerned countries, are below they used to be before the crisis. therefore, markets have regained what we are doing now is building the next step, building the banking union. we have already agreed on mechanisms because we need a strong european...
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Apr 21, 2013
04/13
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she was not in any way on the same level as president reagan when it came to deficits will take care of themselves if we cut taxes and growth will come in. idea that cutting taxes raises revenues and you do not have to worry about deficits, that was not what lady thatcher was at all. she was the grant them -- --ntham housewufe adding up she was much more cautious. helen, republican color. caller: i am from manchester, england. i frequently visit my relatives in england. you know, in the late 1970s early 1980s i was adding there for a little while and i would talk to my cousins. they really hated margaret thatcher because they felt that she was a direct threat to their own livelihood. they were very pro-union, very labour party and they believe thatcher was going to take away their jobs, their homes, their education. and i was there two years ago. speaking to the same cousins, they still hate thatcher. they blame her for all of england's economic woes, blame her for the breakup of the uk that is pending with scotland, if itey really feel that was not for the government, for socialism,
she was not in any way on the same level as president reagan when it came to deficits will take care of themselves if we cut taxes and growth will come in. idea that cutting taxes raises revenues and you do not have to worry about deficits, that was not what lady thatcher was at all. she was the grant them -- --ntham housewufe adding up she was much more cautious. helen, republican color. caller: i am from manchester, england. i frequently visit my relatives in england. you know, in the late...
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Apr 16, 2013
04/13
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we have a massive deficit. >> well, we had a 6% of gdp deficit in 2006. it's now 3% of gdp. and if some of the economists' projections are correct, we go into surplus by 2020. that's what the market thinks. it could go wrong and i wouldn't sell all my gold at this point. but the way the market is going, we are likely to have a trade surplus or at least a deminimus deficit and that means our international credit is going to be terrific and there is no dollar crash. >> peter schiff, let me just ask you. look, there has been an awful lot of pessimism and i've been a credit of ben bernanke. and it's interesting to me and i want to get your reaction. the big inflation never came. the total collapse of the dollar never came. in fact, the dollar, against broad trade-weighted indexes is about what it was four or five years ago. gone up and down, hasn't really moved. this pumping of the money supply, most of the banks didn't use the reserves. and the inflation rate, heck, today, i think the year on year cpi, 1.3%. in other words, a lot of the doom and gloom collapsed the dollar, coll
we have a massive deficit. >> well, we had a 6% of gdp deficit in 2006. it's now 3% of gdp. and if some of the economists' projections are correct, we go into surplus by 2020. that's what the market thinks. it could go wrong and i wouldn't sell all my gold at this point. but the way the market is going, we are likely to have a trade surplus or at least a deminimus deficit and that means our international credit is going to be terrific and there is no dollar crash. >> peter schiff,...
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Apr 22, 2013
04/13
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spanish deficit was up to 10.6% of gdp. stephane joins us now live from madrid. >> there is no surprise. 10.6% of gdp. there's a reason behind it. it's the cost of bailing out the spanish banking sector. eurostadt did not give the details about the calculation, but without the cost of bailing out the banking sector, the deficit was 6.9% of gdp, which is higher than the 3% target set by the government, but of course that would be much lower than the 10%, for instance, deficit that we've seen in greece last year as a result, of course, the spanish debt is rising. it's now 84.2% of the spanish gdp. that's a sharp increase if you compare to the level before the prices in spain. and there's a paradox in that announcement. yes, we've seen some positive reaction on the bond market. the other part is that it will actually help the government to ask for more time to reduce its public deficit below 3% of ggdp. the new target will be 2016, two years later than expected, and that will give the government a bit of precome, a bit of marg
spanish deficit was up to 10.6% of gdp. stephane joins us now live from madrid. >> there is no surprise. 10.6% of gdp. there's a reason behind it. it's the cost of bailing out the spanish banking sector. eurostadt did not give the details about the calculation, but without the cost of bailing out the banking sector, the deficit was 6.9% of gdp, which is higher than the 3% target set by the government, but of course that would be much lower than the 10%, for instance, deficit that we've...
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the deficit is the outcome really what you should be targeting is is growth and you should be looking to to smooth out over this cycle to have some sort of a policy that allows you to have maximum plummet at all times and the deficit will be lower as a result of that if you have the appropriate tax policy let me let me jump in for a second because i understand you're saying that you've got three avenues to pursue and different countries would require different prescriptions unfortunately in these countries you have different lobbying groups and different ideologies all competing to get their ideology and their policies through they all think they have the best policy no reason to bring this up is because here in the u.k. margaret thatcher has died margaret thatcher there's a big margaret that there's a funeral there's a huge outpouring of emotion about margaret thatcher back in the seventy's when she assumed power she too had all these competing voices telling her what to do she took a survey very strong position for better or worse she took action so my question to you as a long term
the deficit is the outcome really what you should be targeting is is growth and you should be looking to to smooth out over this cycle to have some sort of a policy that allows you to have maximum plummet at all times and the deficit will be lower as a result of that if you have the appropriate tax policy let me let me jump in for a second because i understand you're saying that you've got three avenues to pursue and different countries would require different prescriptions unfortunately in...
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the deficit is the outcome really what you should be targeting is is growth and you should be looking to to smooth out over this cycle to have some sort of a policy that allows you to have maximum plummet at all times and the deficit will be lower as a result of that if you have the appropriate tax policy let me let me jump in for a second because i understand you're saying that you've got three avenues to pursue and different countries would require different prescriptions unfortunately in these countries you have different lobbying groups and different ideologies all competing to get their ideology and their policies through they all think they have the best policy the reason i bring this up is because here in the u.k. margaret thatcher has died margaret thatcher there's a big margaret that there's a funeral there's a huge outpouring of emotion about margaret thatcher back in the seventy's when she assumed power she too had all these competing voices telling her what to do she took a survey very strong position for better or worse she took action so my question to you as a long term
the deficit is the outcome really what you should be targeting is is growth and you should be looking to to smooth out over this cycle to have some sort of a policy that allows you to have maximum plummet at all times and the deficit will be lower as a result of that if you have the appropriate tax policy let me let me jump in for a second because i understand you're saying that you've got three avenues to pursue and different countries would require different prescriptions unfortunately in...
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is presently struggling with a budget deficit the u.k. is saddled with an enormous deficit complete with negative economic growth none of those countries had anticipated that these economic ills would overlap in such a way that it would inflict such a severe downturn on them one could argue that it was economists who had failed to give us an early warning or that it was the regulators who had failed to account for all the risks or maybe and i think this is the case it was politicians who had allowed a boost in spending without securing revenues are driven as they often are by populist russia now as a result those economies were essentially living on credit i believe that one of the major precursors to the crisis has been exactly the fact that politicians who oversaw an accumulation of debt back when their economies were enjoying positive economic growth growth periods should normally be used to reduce debt when the crisis broke out those economies found themselves ridden with debt with no reserves to use as a safety cushion therefore i th
is presently struggling with a budget deficit the u.k. is saddled with an enormous deficit complete with negative economic growth none of those countries had anticipated that these economic ills would overlap in such a way that it would inflict such a severe downturn on them one could argue that it was economists who had failed to give us an early warning or that it was the regulators who had failed to account for all the risks or maybe and i think this is the case it was politicians who had...
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trade deficit with. a devastated middle class. so the first part deals with those kinds of problems the second are shows what is happening to the american labor force it in effect has been turned into a third world labor force where the only available jobs are and lowly paid the best services so that the effect of. the new economy is to have to have an undeveloped very real economy and the third part deals with the current. so called sovereign debt crisis in europe and shows that it's being used to establish. two things one that the public must bear the cost of mistakes made by private banks and the other use of the so-called crisis is to take away the sovereignty of the individual countries by turning their budget and tax policy over to to the e.u. so that's what the book about as it walks you through basically the failure of economics the failure of all of the apologists for the failure policies now what happened with while it did i use the failure of laissez faire capitalism well if you look back over the last quarter century i
trade deficit with. a devastated middle class. so the first part deals with those kinds of problems the second are shows what is happening to the american labor force it in effect has been turned into a third world labor force where the only available jobs are and lowly paid the best services so that the effect of. the new economy is to have to have an undeveloped very real economy and the third part deals with the current. so called sovereign debt crisis in europe and shows that it's being...
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Apr 16, 2013
04/13
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it's believed that cyprus may need to sell some gold to help cover its deficit. whale analysts don't feel it would have a huge impact on the overall market, they worry it sets a precedent for other troubled countries. while others believe gold will rebound, the thought is that the pile on selling doesn't last. >> the chances are that it will go up and down for a few weeks around then stabilize and the buyers will then step in. >> while some are worried about how the decline might impact their pension plans, it usually tends to be a small percentage of a diversified portfolio. the decline might be balanced out by gains in equities and there's even a silver lining. for those in the market to buy the commodity itself or gold jewelry, this could be a time to jump in. >> that tumble in gold prices also prompted a rare retraction from bill gross. the founder and co-chief investment officer of pimco. at a barrens magazine event last month, he predicted prices wouldn't move much unless real interest deklaclined further or expectations rose higher. neither happened. today
it's believed that cyprus may need to sell some gold to help cover its deficit. whale analysts don't feel it would have a huge impact on the overall market, they worry it sets a precedent for other troubled countries. while others believe gold will rebound, the thought is that the pile on selling doesn't last. >> the chances are that it will go up and down for a few weeks around then stabilize and the buyers will then step in. >> while some are worried about how the decline might...
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Apr 24, 2013
04/13
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reduce our deficit while making investments necessary to have our economy grow and create jobs, protect the middle class and seniors. the president has engaged in a process with lawmakers were he is trying to find common ground to see if common ground exists. he has put forward a plan that would do that and would eliminate the sequestered in the process. when it comes to these delays, congress has to act in order to reverse these delays. >> you are not asking for the ability to prioritize spending -- >> since we did everything we could to avert the sequester and republicans decided as a political matter that it was a home run for them to inflict this upon the american people, i think that suggestion does not hold water. secondly, the faa did take action to produce savings and avoid furloughs. because of the nature of their budget, and the personnel have the nature of their operation, furloughs are the only option available at this time. if congress wants to address this matter of, they should act, but this is something that only congress can do. tell us what the administration is doing
reduce our deficit while making investments necessary to have our economy grow and create jobs, protect the middle class and seniors. the president has engaged in a process with lawmakers were he is trying to find common ground to see if common ground exists. he has put forward a plan that would do that and would eliminate the sequestered in the process. when it comes to these delays, congress has to act in order to reverse these delays. >> you are not asking for the ability to prioritize...
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for the meantime as our european countries wrestle with their budget deficits and slash their military spending it's becoming harder for nato to stay afloat now the alliance is top officer has slammed the e.u. allies for quote getting a free ride and while leaving the u.s. to bear the burden of the defense finances now crisis hit nato states have already chopped more than forty five billion dollars from the alliance is treasury that's the equivalent of germany's entire annual military budget now the number of european troops in the u.s. led bloc though has also plummeted from two point five million in two thousand now to one point eight six million and while the u.s. is also trimming its own military costs its share of the budget has still risen to seventy five percent of the total and as artists are silly reports from brussels concerns over nato's viability continue to grow. the nato secretary general anders fogh rasmussen had actually come out and warned its partners against the danger of more defense spending cuts as we've already seen especially from its european partners so this o
for the meantime as our european countries wrestle with their budget deficits and slash their military spending it's becoming harder for nato to stay afloat now the alliance is top officer has slammed the e.u. allies for quote getting a free ride and while leaving the u.s. to bear the burden of the defense finances now crisis hit nato states have already chopped more than forty five billion dollars from the alliance is treasury that's the equivalent of germany's entire annual military budget...
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Apr 16, 2013
04/13
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these cuts are part of a balanced budget of deficit reduction. these cuts are backloaded, occurring mainly in the years beyond f.y. 2018, which gives the department time to plan and implement the reductions wisely and responsibly, anchored by the president's defense strategic guidance. let me turn to the details of the president's budget request. $526.6 billion budget request addresses the compelling demands of supporting troops in afghanistan, protecting readiness, modernizing the military's weapons inventory and in keeping with the president's strategic guidance and sustaining the quality of the all-volunteer force. today's budget request contains a placeholder request, mr. chairman, for overseas contingency at the f.y. 2013 vel, and the submission does not include a formal request because afghanistan force levels and deployment decisions for this year were delayed in order to provide commanders enough time to fully assess requirements. we will be smithing a budget with the -- submitting a budget and account level detail. the base budget contin
these cuts are part of a balanced budget of deficit reduction. these cuts are backloaded, occurring mainly in the years beyond f.y. 2018, which gives the department time to plan and implement the reductions wisely and responsibly, anchored by the president's defense strategic guidance. let me turn to the details of the president's budget request. $526.6 billion budget request addresses the compelling demands of supporting troops in afghanistan, protecting readiness, modernizing the military's...
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the deficit is the outcome really what you should be targeting is is growth and you should be looking to to smooth out over this cycle to have some sort of a policy that allows you to have maximum plummet at all times and the deficit will be lower as a result of that if you have the appropriate tax policy i let me let me jump in for a second because i understand you're saying that you've got three avenues to pursue and different countries would require different prescriptions unfortunately in these countries you have different lobbying groups and different ideologies off impeding to get their ideology and their policies through they all think they have the best policy the reason i bring this up is because here in the u.k. margaret thatcher has died margaret thatcher there's a big margaret that there's a funeral there's a huge outpouring of emotion about margaret thatcher back in the seventy's when she assumed power she too had all these competing voices telling her what to do she took a survey very strong position for better or worse she took action so my question to you as a long ter
the deficit is the outcome really what you should be targeting is is growth and you should be looking to to smooth out over this cycle to have some sort of a policy that allows you to have maximum plummet at all times and the deficit will be lower as a result of that if you have the appropriate tax policy i let me let me jump in for a second because i understand you're saying that you've got three avenues to pursue and different countries would require different prescriptions unfortunately in...
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Apr 18, 2013
04/13
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i have a record of wanting to do deficit reduction. we are grappling with these at the stateoo department. as part of the budget, we will help cut our deficit responsibly while investing in areas that attract economic growth and create jobs for americans and secure our national interest. budget request of represents a six percent reduction from 2012 fudnding levels. we have examined our request with a clear determination to improve efficiency. given limited reforms and reduce costs -- we have implemented reforms and reduce cost. we deliver the maximum bang for the minimal manager of our citizens dollars. about one penny for our national security and global interests out of every dollar. you may give you examples of the kind of work you're doing to make the world safer. with just over $3.5 million, the bureau conflict and stabilization operations made investments leading up to the recent elections in kenya. i know that helped to prevent a repeat of the violence we saw five years ago it also provided accountability to concededodingd odin
i have a record of wanting to do deficit reduction. we are grappling with these at the stateoo department. as part of the budget, we will help cut our deficit responsibly while investing in areas that attract economic growth and create jobs for americans and secure our national interest. budget request of represents a six percent reduction from 2012 fudnding levels. we have examined our request with a clear determination to improve efficiency. given limited reforms and reduce costs -- we have...
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of focusing on tax rates well of course and so how have we most effectively raised you know the by deficit spending we did it with world war two we did it with the highs in our highway project we did it with the great society we did it with a man on the moon i mean we know you can't give me past nine hundred sixty not the world's changed since we made it out we should just we should just be going for no reason just that he should just sweep the rest of the world and recover or his recovery and it will be my good name is that because i love what you just said the communal spending will communal spending is there and if it's done right in strategically you make sure your average citizen is educated well and can compete in a global society and that in very investments are made so that we can lead the world in things like alternative energy but that's not happening right now because all we want to do is not tax the people tom what is the tax rate now for the very wealthy as compared to the reagan era welfare now it's the top tax rate is thirty nine percent but if you're in your living sitting
of focusing on tax rates well of course and so how have we most effectively raised you know the by deficit spending we did it with world war two we did it with the highs in our highway project we did it with the great society we did it with a man on the moon i mean we know you can't give me past nine hundred sixty not the world's changed since we made it out we should just we should just be going for no reason just that he should just sweep the rest of the world and recover or his recovery and...
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is presently struggling with a budget deficit the u.k. is saddled with an enormous deficit complete with negative economic growth none of those countries had anticipated that these economic ills would overlap in such a way that it would inflict such a severe downturn on them one could argue that.
is presently struggling with a budget deficit the u.k. is saddled with an enormous deficit complete with negative economic growth none of those countries had anticipated that these economic ills would overlap in such a way that it would inflict such a severe downturn on them one could argue that.
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Apr 24, 2013
04/13
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target, the government will not waste this time and try to keep the deficit under control. kelly, over to you. >> do you wear suits from -- >> sorry? no, it's not. >> good looking suit. joining us from madrid. we'll hear more about that on friday. i bring this up because luxury brands have been under pressure amid slower growth in china. there are reasons for companies to stay upbeat. >> it is it stylish, sleek and highly sought after. luxury goods the envy of fashionistas all around the world from the streets of milan to beijing, luxury fashion is still in demand. as europe remains in the doldrums and there are signs of slowing, it begs the question how much longer can it last? in sidney this week, an italian label believes there are growth opportunities in the world's second largest economy. >> i think that we were used to double digit growth and now we have to be ready for slower growth. i do believe there is growth to look for in china. we are in approximately 35 cities and there are at least double of the cities that we can go in the next couple of years. >> the compan
target, the government will not waste this time and try to keep the deficit under control. kelly, over to you. >> do you wear suits from -- >> sorry? no, it's not. >> good looking suit. joining us from madrid. we'll hear more about that on friday. i bring this up because luxury brands have been under pressure amid slower growth in china. there are reasons for companies to stay upbeat. >> it is it stylish, sleek and highly sought after. luxury goods the envy of...
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Apr 24, 2013
04/13
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coming in second, but a less of a concern, the federal deficit. what to make of that, steve moore is joining us. a license for lawmakers to do all about our deficit. >> that is right. the budget deficit has gone a lot lower than putting people back to work and getting businesses profitable again. i was not surprised by this. i was a little surprised that terrorism was not high on the list. where is global warming? dagen: if i am the white house, i read into that. people say spend more, do not cut spending. spend more to create jobs rather than worry about our debt and deficit. >> that is exactly what the white house believes. i believe just the opposite. i think that the sequester has actually been bullish for the stock market. i think it is good for the economy to get rid of a lot of this extraneous spending in washington. you are right, the white house will interpret this to say keep spending federal money because in the short term, that is what gets jobs out there. dagen: harry reid said this 2% cut in spending will mean that we, as a nation, w
coming in second, but a less of a concern, the federal deficit. what to make of that, steve moore is joining us. a license for lawmakers to do all about our deficit. >> that is right. the budget deficit has gone a lot lower than putting people back to work and getting businesses profitable again. i was not surprised by this. i was a little surprised that terrorism was not high on the list. where is global warming? dagen: if i am the white house, i read into that. people say spend more, do...
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Apr 23, 2013
04/13
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there could be a peace dividend, where we cut the budget deficit, that happened in the '90s. i don't think you should look at this issue in a way to make money off it, though. it's really not a needle-mover. as a matter of fact, it can be negative for a lot of the defense companies, as we know. and they have been under a cloud because of these cuts. here's one from danny in new york. hi, jim, i have heard you say considering the downside of an equity that you would short a stock rather than buy a put. please elaborate. danny, i am so glad you sent me this. because if i have created any misperception that i favor shorting stocks, it is completely out of character with all my books and what i used to do with my hedge fund or trading for myself. i always do puts. i very rarely do shorts because as i write in "confessions of a street addict," i was a victim of a lot of squeezes that lost me a ton of money. use puts. here's some tweets, from b kelly, 01 not @jim cramer. covered calls, why do you hate them so much? here's the answer. i got to tell you something, b kelly 019, i hate
there could be a peace dividend, where we cut the budget deficit, that happened in the '90s. i don't think you should look at this issue in a way to make money off it, though. it's really not a needle-mover. as a matter of fact, it can be negative for a lot of the defense companies, as we know. and they have been under a cloud because of these cuts. here's one from danny in new york. hi, jim, i have heard you say considering the downside of an equity that you would short a stock rather than buy...
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Apr 23, 2013
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set aside for a moment the deficit issue. i said moment, not forever, we know we have to deal with the deficit. but you cannot solve that deficit unless you have americans working. and we can put americans back to work. -- back to work. >> and unleash, i believe, unleash a new economy. i mean, that's -- we're strangling the economy right now. because we're not making the kind of investments. and again, when you look at our competitors, because from northeast ohio, we play a lot of football, there's a scoreboard. there's a scoreboard. mr. ryan: america is not going to win every game but we better be in a position where in the global economic competition that we are competitive and we know what makes us competitive. and i'm not saying it's all about making money, a lot of this stuff that we're talking about is quality of life. we won't get into health care preventive care or anything leek that but we have human beings that are stuck in traffic for two hours in a commute in and out of a city and we're not investing in the high s
set aside for a moment the deficit issue. i said moment, not forever, we know we have to deal with the deficit. but you cannot solve that deficit unless you have americans working. and we can put americans back to work. -- back to work. >> and unleash, i believe, unleash a new economy. i mean, that's -- we're strangling the economy right now. because we're not making the kind of investments. and again, when you look at our competitors, because from northeast ohio, we play a lot of...
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well as european countries wrestle with their budget deficits and slash military spending it's becoming harder for nato to stay fiscally sound the alliance is top officer has slammed the e.u. allies for getting a free ride with the u.s. left to bear the brunt of defense finances crisis hit nato states have already charred more than forty five billion from the alliance treasury the equivalent of germany's whole military budget the number of european troops in the u.s. led bloc has also dropped from two and a half million in two thousand to one point eight six million now and one of us is also trimming its military cos its share of the budget still seventy five percent of the total. reports from brussels concern over nato as future could be growing. the nato secretary general anders fogh rasmussen had actually come out and warned its partners against the danger of more defense spending cuts as we've already seen especially from its european partners this opinion was also echoed by the former u.s. defense secretary robert gates he said that if this trend does continue to be alliance it cou
well as european countries wrestle with their budget deficits and slash military spending it's becoming harder for nato to stay fiscally sound the alliance is top officer has slammed the e.u. allies for getting a free ride with the u.s. left to bear the brunt of defense finances crisis hit nato states have already charred more than forty five billion from the alliance treasury the equivalent of germany's whole military budget the number of european troops in the u.s. led bloc has also dropped...
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Apr 23, 2013
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it is deficit-reduction without a tax increase. i think it's the kind of deficit reduction that we can get bipartisan support for in the country. grow up all sorts of other issues. what about public education? public schools don't teach kids how to read english well and don't teach them american history. but that's a problem, then we need education reform. that is being worked on a state- by-state. that's a problem for kids born here as well as everybody else, in terms of the quality of education they're getting. what about the welfare system? 185 means-tested welfare programs. bill clinton worked with republican congress to reform aid to families with dependent children. we can make progress on the others as well, and reforming welfare is important and needs to be done. it saves money and keeps people from getting locked into welfare dependency. but none of those are arguments for getting in the way of immigration reform. then there's the question of entitlements medicare and get benefits because they are born, a question of immig
it is deficit-reduction without a tax increase. i think it's the kind of deficit reduction that we can get bipartisan support for in the country. grow up all sorts of other issues. what about public education? public schools don't teach kids how to read english well and don't teach them american history. but that's a problem, then we need education reform. that is being worked on a state- by-state. that's a problem for kids born here as well as everybody else, in terms of the quality of...
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Apr 23, 2013
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so the country will have a bit more time to reduce its public deficit. then it will be able to implement some growth incentive measures. that's the reason why the stock market is doing well and that's the reason why we've seen yesterday the bond market failing to the lowest level in 2 1/2 years, despite the report from eurostadt saying spain last year had the highest deficit in europe and the latest announcement from the bank of spain in terms of economic growth. >> stephane, by the way, if you could order pizza through your television -- i've seen that television, it's pretty big -- would you? >> sorry, if i could order pizza? >> yes. through your television. would you be interested? >> well, i have reached an age i can't afford -- i can't eat pizza. but, you know, one piece brings probably two hours, three hours at the gym. >> not worth it. that might tie in nicely with what's going on in our next story. stephane, thank you very much. pizza and video games may now be going hand in hand. in fact, it might be the perfect food to chow down on while you're
so the country will have a bit more time to reduce its public deficit. then it will be able to implement some growth incentive measures. that's the reason why the stock market is doing well and that's the reason why we've seen yesterday the bond market failing to the lowest level in 2 1/2 years, despite the report from eurostadt saying spain last year had the highest deficit in europe and the latest announcement from the bank of spain in terms of economic growth. >> stephane, by the way,...
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Apr 19, 2013
04/13
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back from a 90 point* plus deficit. a 95 point* swing we hold on for the last few minutes. can we? we are watching every tick of the way. . .. this is america. we don't let frequent heartburn come between us and what we love. if you're one of them people who gets heartburn and then treats day afr day... block the acid with prilosec c and don't g heartburn in the first place! [ malennouncer ] e pill eachmorning. 24 urs. zero heartbur bob will retire when he's 153, which would be fine if bob were a vampire. but he's not. ♪ he's an architect with two kids and a mortgage. luckily, he found someone who gave him a fresh perspective on hisortfolio. and with some plannining aneffort, hopefully bob can retire at a more appropriate age. it's not rocket science. it's just common sense. from td amitrade. is. liz: right now with just a couple of minutes left for the markets, we have a couple of 52-week highs. we need to show them to you right now. they are probably wildly held names you hold in your portfolio. everything from mcdonald's to proctor & gamble. as you look at these names keep in
back from a 90 point* plus deficit. a 95 point* swing we hold on for the last few minutes. can we? we are watching every tick of the way. . .. this is america. we don't let frequent heartburn come between us and what we love. if you're one of them people who gets heartburn and then treats day afr day... block the acid with prilosec c and don't g heartburn in the first place! [ malennouncer ] e pill eachmorning. 24 urs. zero heartbur bob will retire when he's 153, which would be fine if bob were...
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Apr 24, 2013
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. >> bob: they all pay their parking tickets then we wouldn't have a big deficit problem. >> eric: $50 billion we have given the u.n. they do fund this human rights council and this guy does get money from that council. >> bob: reports children of the world. >> greg: let's face it, they do fund new york's prostitutes we can't forget that. >> bob: i never saw any hookers at the u.n. >> greg: speak up or stay silent on kermit gosnell born alive at his clinic. kimberly has breaking news on the courtroom action next. ♪ [ male announcer ] just when you thought you had experienced performance a new ride comes along and changes everything. the 2013 lexus gs. this is the pursuit of perfection. can youtart the day the way you want? can orenci(abatacept) help? could your "i want" become "i can"? talk to your rheumatologist. orencia reduces many ra symptoms like pain, morning stiffness and the progression of joint damage. it's helped new ra patients and those not helped enough by other treatments. do not take orencia with another biologic medicine for ra due to an increased risk of serious infe
. >> bob: they all pay their parking tickets then we wouldn't have a big deficit problem. >> eric: $50 billion we have given the u.n. they do fund this human rights council and this guy does get money from that council. >> bob: reports children of the world. >> greg: let's face it, they do fund new york's prostitutes we can't forget that. >> bob: i never saw any hookers at the u.n. >> greg: speak up or stay silent on kermit gosnell born alive at his clinic....
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Apr 17, 2013
04/13
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low yields make pension deficits worse and make corporates less likely to invest. they backed themselves into a corner here. >> what's your take? >> i do think that qe has helped the economy over the past four years. our own view is you get diminishing returns to each slug of qe as you go along. we suspect in due course that we'll get another expansion of asset purchases which at the margin may help and there may be psychological boost to markets but the other things to watch out for are the success or otherwise of bank of england's funding for lending scheme which we're relatively hopeful will help to expand the supply of mortgage credit. >> it doesn't seem like it's done much frankly. >> it's a slow burn. the last couple of months of data have been disappointing but through the back end of the second half of last year what we saw was a steady increase in mortgage approvals and that's helpful. the other thing to watch out for is what's happening to the small business sector. we have been calling for some sort of government if not bank of england action to help cha
low yields make pension deficits worse and make corporates less likely to invest. they backed themselves into a corner here. >> what's your take? >> i do think that qe has helped the economy over the past four years. our own view is you get diminishing returns to each slug of qe as you go along. we suspect in due course that we'll get another expansion of asset purchases which at the margin may help and there may be psychological boost to markets but the other things to watch out...
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Apr 20, 2013
04/13
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it would over 10 years increased deficit by about $18 billion. it doesn't tell like a lot now but there are things to remember about the $18 billion. since that time, many of the things that were policy , there has been spending on that about half of what the cbo expected would be needed during those comparable policy objectives now maybe cheaper and generate less and the way of spending. is that thehing cbo did not use a dynamic scoring. you did not take into account the potential economic growth affects. the last piece of what is ,appened is since that score congress has passed and the president has assign the affordable care act. my reading of this legislation is is a bipartisan commitment that those who would become registered provisional immigrants who are here illegally, would not be eligible 10,benefits not for probably not for 15. so there will not be a budgetary impact. over the longer term, there is something congress should keep on and terms of the budgetary outlook. i would be happy to discuss with you the impact of the bill in that r
it would over 10 years increased deficit by about $18 billion. it doesn't tell like a lot now but there are things to remember about the $18 billion. since that time, many of the things that were policy , there has been spending on that about half of what the cbo expected would be needed during those comparable policy objectives now maybe cheaper and generate less and the way of spending. is that thehing cbo did not use a dynamic scoring. you did not take into account the potential economic...
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Apr 18, 2013
04/13
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>> well, many countries really have to choice but to consolidate, because their defini deficits and debts are high. but they do have a choice about the pace of consolidation and of course how they structure their government. in some cases, certain kinds of spending, infrastructure spending, are probably not going to impair your long-run sustainability. so the composition of spending can be more growth friendly. but countries need, also, to consider other prolss and europe needs to consider other policies to be supportive of growth, since consolidation will have to proceed, even if it's proceeding at a slower pace. >> does the imf want countries sellheir gold? that might be the impression that people would have got often the events of the last couple of weeks. >> no, we don't have a view on that subject at all. >> even though cyprus, in the memorandum of understanding that's been leaked, it looks like cyprus has been asked to do that. >> i think cyprus may choose what cyprus may choose. look, countries may privatize a range of assets if they need to privatize assets and those can be compan
>> well, many countries really have to choice but to consolidate, because their defini deficits and debts are high. but they do have a choice about the pace of consolidation and of course how they structure their government. in some cases, certain kinds of spending, infrastructure spending, are probably not going to impair your long-run sustainability. so the composition of spending can be more growth friendly. but countries need, also, to consider other prolss and europe needs to...
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Apr 24, 2013
04/13
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500,000 jobs to be created in the next two years, and we're talking about a state that running annual deficits of $20 billion. imagine what they can do with all this money. they won't have to go back on the welfare state or have the cuts they are having. >> interesting. joining us is jeff, the harvard professor who says fracking is good for the environment. welcome to the program. good to see you back again. >> thank you, good to be with you. >> 30 seconds on why fracking are good for the environment? >> there's qualifications, of course, but u.s. emissions of co2, carbon dioxide, are down 12% relative to the pam in 2007. this is unanticipated. we department sign the protocol. europe did. what's the reason for that? well, the fall from 2007 to 2009, you could say that's because of the recession, but it's still declining, and recession ended in june 2009. we've been growing since then, much more rapidly than europe, and yet, grown house gases fall, and europe's turned around after 2009. the reason is because of shale gas, which has been a natural gas recovered via what's called fracking, use of
500,000 jobs to be created in the next two years, and we're talking about a state that running annual deficits of $20 billion. imagine what they can do with all this money. they won't have to go back on the welfare state or have the cuts they are having. >> interesting. joining us is jeff, the harvard professor who says fracking is good for the environment. welcome to the program. good to see you back again. >> thank you, good to be with you. >> 30 seconds on why fracking are...
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Apr 22, 2013
04/13
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called on congress to replace the dumb sequester cuts and put instead in place a smarter approach to deficit reduction. >> republicans are charging politics. this is from bill shuster, the chairman of the transportation and infrastructure committee a republican. this disregard for the american public is indicative that the administration views as the sequester to attempt to score political points rather than address real issues and find real savings in a bloated federal bureaucracy. the airline industry says that these cuts could be designed much better. they say they have been designed for what appears to be maximum impact. they are suing the faa to try to overturn the way these cuts have been structured. back to you. melissa: we are up-to-date. thanks to you, rich edson. melissa: despite the faa's dire warnings so far flight delays seem to be anything but sequester-related as you just heard. is this another example of the faa crying wolf? let's ask mary schiavo. former secretary with the transportation. faa playing politics. >> they can rely on constituent group, airline and air port opera
called on congress to replace the dumb sequester cuts and put instead in place a smarter approach to deficit reduction. >> republicans are charging politics. this is from bill shuster, the chairman of the transportation and infrastructure committee a republican. this disregard for the american public is indicative that the administration views as the sequester to attempt to score political points rather than address real issues and find real savings in a bloated federal bureaucracy. the...
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Apr 18, 2013
04/13
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we are doing major work on the deficit this year. that is slowing the economy. later on the economy can accelerate. overall, it wasn't as bad as it looked in the fourth quarter. it wasn't as good as 3% to 4% if r the first quarter. i think it's good enough. >> wow. a lot of people would take that. you ian say -- i mean, talk about a silver linings playbook that the collapse in goal removes an impediment to hardball asset pricing. with you explain that? >> we have seen a lot of markets are very out of whack in recent years. that causes people to make strange investment decisions. also to cash accounts. still too much money sitting in cash accounts. but it doesn't tell me anything important by the global economy. it just tells me that one side show was that distraction for a lot of investors is ending here. so it's funneling money back in towards long-term inmentes in real estate, in business, in equities. that's where we want to see money invested. >> does that mean you take a gamble on the technology? we'll get results tonight or is this a general bulls market?
we are doing major work on the deficit this year. that is slowing the economy. later on the economy can accelerate. overall, it wasn't as bad as it looked in the fourth quarter. it wasn't as good as 3% to 4% if r the first quarter. i think it's good enough. >> wow. a lot of people would take that. you ian say -- i mean, talk about a silver linings playbook that the collapse in goal removes an impediment to hardball asset pricing. with you explain that? >> we have seen a lot of...